RBC to sell its Suriname Banking Operations

04/01/2015

TORONTO, April 1, 2015 — Royal Bank of Canada (RY on TSX and NYSE) or (“RBC”) today announced that it has entered into a definitive agreement to sell RBC Royal Bank (Suriname) N.V. (“RBC Suriname”) to Republic Bank Limited, subject to customary closing conditions, including regulatory approvals.

"As we continue to focus our Caribbean operations on markets in which we can be a leading competitor for the long-term, we have made the decision to sell RBC Suriname to Republic Bank Limited," said Kirk Dudtschak, executive vice-president and head, RBC Caribbean Banking. "This transaction supports the successful repositioning of our Caribbean business for the future and allows us to focus on markets where we can strengthen our operational capabilities and where we see opportunities for growth."

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